Answer
$\$47,341.75$
Work Step by Step
We calculate the interest using the simple interest formula ($\$46300$ at 3% for 9 months):
$Interest=Principal*rate*time$
$I=Prt$
$I=46300*0.03*\frac{9}{12}$
$I=\$1041.75$
To find out the total amount that needs to be repaid, we add the original principal and the interest:
$46300+1041.75=\$47,341.75$
